By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Wednesday, backed by increased investments in blue chips.
The DFMGI rose 0.39% or 13.85 points to reach 3,608.47 points.
The market ended the fluctuating session higher after traders raised investments in blue chips, which did not announce first-half financials, capital market analyst Mahmoud Ziad told Mubasher.
The investment sector topped gainers with a 1.64% rise after Dubai Investments went up 2.08%.
The banks sector rose 0.44% after Dubai Islamic Bank (DIB) added 0.8%. The real estate sector levelled up 0.2% as Emaar Properties and Arabtec Holding grew 0.3% and 0.12%, respectively.
On the other hand, the insurance sector fell 1.64% as National General Insurance (NGI) retreated 9.6%.
Trading volume reached 227.86 million shares on Wednesday, compared to 349.78 million shares on Tuesday. Turnover amounted to AED 298.26 million, compared to AED 338.88 million.
The market’s closure above 3,566 points gives a good signal, according to Hisham Hassan, head of technical analysis at Acumen Securities Brokerage.
Translated by: Julian Nabil
